t the nature of the product, the consumer would practice the Habitual Buying Behaviour. This is because the product is because the product is in inexpensive and there is low involvement on the part of the consumer. The consumer tends to buy a brand out or familiarity or far variety sake. As such the consumer might lack brand loyalty. Many companies such as Kao Corporation put effort into building its brand name to instil brand loyalty. The industry players are very much dependent on the repeat purchase of the consumer to make long term profits. Product Characteristics The Fast Moving Consumer Product is made of a wide range of Products. The following are some examples: - 1) Shampoo 2) Facial Wash 3) Detergents 4) Soap Within these product lines, there is further differentiation, for instance, shampoo for oily, dry and normal hair types. As time progresses on, companies undertake research to better satisfy the needs and wants of the market. Due to the vast differences between individuals more and more product lines are being introduced. Industrial Life Cycle The industry can be said to be of age. In most developed countries, the industry has already reach maturity and demand is saturated. However, in the Less Developed and Developing countries, the industry is said to be in its growth stage. In order to avoid many of the products to enter the decline stage, many companies have modified existing products in order to breathe new life into it. This is a tactic used to attract both new and existing consumers. Even though the market is matured, the competitions continues to intensify, many firms are introducing new products with new value or convenience in their bid to win consumer support. This in turn causes the introduction stage of the product life cycle to be shorter as competitors are fast to introduce new products into the market. Products are being designed to be more diversified into the individuality of consumers. As such, the tren...
